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Israel retaliation may target Iran oil infrastructure, boosting prices further, Wall Street analysts say
The oil market faced a rude awakening this week after Iran launched a large-scale ballistic missile attack against Israel, briefly sending crude prices more than 5% higher Tuesday after a period of sleepy trading. For months now, traders have largely dismissed the risk of a supply disruption in the Middle East. Instead, bearish sentiment swept the market in September as investors increasingly fear a surplus next year due to softening demand in China and increased production from OPEC+. The expanding war in the Middle East, however, has reached a new boiling point as Israel has vowed a “painful” response to ... (full story)
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- Posted: Oct 2, 2024 12:58pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 107
